Trade Desk (NASDAQ:TTD) Price Target Cut to $40.00 by Analysts at Bank of America

Trade Desk (NASDAQ:TTD) had its price objective dropped by Bank of America from $49.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the technology company’s stock. Bank of America‘s price target suggests a potential upside of 14.88% from the stock’s previous close.

Several other research firms also recently weighed in on TTD. Rosenblatt Securities cut their price objective on Trade Desk from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Wolfe Research reissued an “outperform” rating and set a $45.00 price target (down from $60.00) on shares of Trade Desk in a research note on Monday, January 5th. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price objective (down previously from $55.00) on shares of Trade Desk in a research note on Monday, January 5th. Benchmark upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Friday, November 7th. Finally, Cannonball Research raised shares of Trade Desk to a “strong-buy” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.41.

Trade Desk Price Performance

Shares of TTD stock traded down $0.66 on Tuesday, hitting $34.82. 1,463,403 shares of the company’s stock were exchanged, compared to its average volume of 10,560,446. The company has a 50 day moving average of $38.64 and a 200 day moving average of $51.90. The stock has a market cap of $16.84 billion, a P/E ratio of 39.76, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Trade Desk has a 12 month low of $34.60 and a 12 month high of $126.20.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $739.43 million for the quarter, compared to the consensus estimate of $719.11 million. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. Sell-side analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of the company. Family Legacy Financial Solutions LLC raised its stake in Trade Desk by 163.2% during the third quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock worth $25,000 after buying an additional 310 shares during the last quarter. Sound Income Strategies LLC boosted its position in Trade Desk by 317.6% during the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock valued at $26,000 after acquiring an additional 270 shares during the last quarter. Versant Capital Management Inc grew its holdings in Trade Desk by 175.8% during the 3rd quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock worth $26,000 after acquiring an additional 334 shares during the period. Root Financial Partners LLC bought a new position in shares of Trade Desk in the 3rd quarter worth about $26,000. Finally, Elevation Wealth Partners LLC raised its position in shares of Trade Desk by 2,382.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 720 shares of the technology company’s stock worth $27,000 after acquiring an additional 691 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Company Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.